The global denim fabric market is growing at 4.4 per cent a year, reveals Allied Market Research stats. The availability of denim fabric at reasonable prices and new socio-economic trends are driving the growth of the global denim fabric market.
The rise of biodegradable denim fabric has opened new prospects. But price instability of cotton and ecological risks related with the use of synthetic dyes confine the market to some level. The Covid outbreak impacted overall supply chain, thereby upsetting the overall growth of the global denim fabric market. The rise in the prices of raw materials, especially cotton and cotton yarn, cut the production of denim fabric, especially during the early phase. Moreover, the dropping income of customers has given way to a reduction in the demand for premium denim products.
The Asia Pacific region got the highest revenue share in 2020, getting nearly four-fifths of the entire market share, and is projected to continue its lead by 2030. From January to September 2021 Bangladesh’s denim exports to the US registered a whopping 31.40 per cent yearly increase. As the world slowly goes back to normal, fashion item consumption is once again showing signs of growth.